NNPC Realised N2.5trn From Petrol Sale In 1yr

The Nigeria National Petroleum Corporation (NNPC) says it realised a total of N2.5 trillion from petrol sale in 12months between February 2019 and February 2020.

February 2020 MFOR also indicated that total revenues recorded from the sales of white products for the period February 2019 to February 2020 stood at about ₦2.6trillion, with petrol contributing about 98.06 per cent of the total sales value of about ₦2.5trillion.

A breakdown showed that total sale and distribution of white products for the period February 2019 to February 2020 stood at about 21billion litres, with petrol accounting for 20.8billion litres or 98.73percent.

The data contained in its February Monthly Financial and Operations Report also stated that about 1.7billion litres of white products, valued at ₦211.62billion, were sold and distributed in February 2020 by its subsidiary Petroleum Products Marketing Company (PPMC), compared with about 1.2billion litres sold in January 2020 with a value of ₦151.79billion.

During the period under review, a total of 32 pipeline-points malfunctioned or were vandalized, representing about 47 percent decrease from the 60 points recorded in January 2020. These comprised 22 pipeline breaches, eight-weld failures and two pipeline ruptures, the report said.

“Mosimi area accounted for 78 percent of total cases, the Port Harcourt axis 16 percent and all other routes accounted for the remaining 6 percent,” it added.

In respect of natural Gas off-take, commercialization and utilization, out of the 241.74billion cubic feet (bcf) of gas supplied in February 2020, 146.54bcf was commercialized, consisting of 35.83bcf and 110.71bcf for the domestic and export market respectively. This translated to a total supply of 1,235.56million Standard Cubic Feet per day (mmscfd) of gas to the domestic market and 3,817.40mmscfd of gas supplied to the export market for the month of February 2020.

According to the report, 699mmscfd was delivered to gas-fired power plants to generate an average power of about 3,064MW in February, compared with January 2020 when an average of 640mmscfd was supplied to generate 2,683MW